UPDATE: Loop Capital Starts Altra Holdings (AIMC) at Buy

Loop Capital analyst Scott Graham initiates coverage on Altra Holdings (NASDAQ: AIMC) with a Buy rating and a price target of $58.00.

The analyst comments "Segment cross-pollination strategies began in 2019 after the acquisition of A&S, as did initiatives aimed at harvesting sales from secular trends. But for half the time since then, industrial conditions were recessionary and benefits were restrained. This year's thrusts are more refined and targeted following the longer ownership period of A&S. AIMC has set a first- time organic sales growth target of +3% to +5%. We expect end-market trends to be better in the next several years than they were in the last several. Combined, we believe there will be better top- and bottom-line read-through of the strategies going forward."

For an analyst ratings summary and ratings history on Altra Holdings click here. For more ratings news on Altra Holdings click here.

Shares of Altra Holdings closed at $40.14 yesterday.

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